Etsy has announced two new customer support services to make selling on the site easier for brand partners. The new subscription packages include online tools tailored to better support global sellers.
The monthly plans begin in July, along with a revision of seller transaction fees to increase investments in the marketplace.
The first seller package launching in July is called Etsy Plus. For $10 a month, this plan is set up for sellers who need to jump-start their growth. They will be able to send targeted restock notifications to customers, have access to free custom web addresses, and receive on-site advertising credits and discounts on branded packaging materials.
The second package, Etsy Premium, which is expected to be available in 2019, gives business owners the tools needed for customer support and to manage multiple staff members. This option is for a seller that needs a complete set of management tools for a larger-scale business. This seller manages either part-time or full-time employees and is looking to unlock new paths to growth.
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"Sellers have a wide range of goals and aspirations, and are all at different points on their journey. So we can’t be a one-size-fits-all platform. The subscription packages, which are completely optional, will allow us to better support sellers at various stages of their growth," an Etsy spokesperson told FierceRetail.
Finally, starting July 16, all transaction fees will change from 3.5% to 5%, to be applied to the cost of shipping. With the money, Etsy plans to increase its marketing spend by at least 40% and to revamp the community platforms.
"We are very excited about the improvements we're making to the selling experience and the investments we're making to help our sellers grow their businesses," a spokesperson from Etsy told FierceRetail. "Sellers have been vocal about their desire for more marketing investment, growth tools and support infrastructure for years, and we're thrilled about our plans to meet their requests in these areas."
The company did not jump into the transaction changes lightly. Etsy did a thorough and thoughtful analysis leading up to the announcement, even holding some in-person panels. They conducted quantitative and qualitative research with over 3,000 sellers and learned that any changes needed to keep the marketplace seller-aligned.
"Even with our new structure, sellers pay fees only when they are successful—there are not as many fixed costs as there are with many other platforms. And the packages are completely optional," the spokesperson said.
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In addition, the revised fee structure creates a model that will enable Etsy to invest more in the business while remaining the best overall value for creative entrepreneurs.
"Sellers hire us for two things: to get them sales and to make it easier to run their businesses," the spokesperson added. "We’re excited to create more opportunities to invest in Etsy’s platform and our sellers. We’re planning to invest even more in bringing buyers to Etsy, building seller tools and improving the seller experience."